Canadians Taking Advantage of South Florida Real Estate Market and Weak US Dollar

Posted by John Sabia on Sunday, October 5th, 2008 at 2:18pm.

Canada FlagSouth Florida offers warm temps, a favorable Real Estate Market, and a refuge from the cold snow filled winters in Canada. Many Canadians looking for a warmer alternative are taking advantage of a weak US Dollar and purchasing real estate in Fort Lauderdale Florida and surrounding neighborhoods. For Canadian buyers, the real estate market in the Sunshine State lives up to its name. With supply of high-quality South Florida homes on the rise, house-hunting Canadians have their pick of the litter from high-rise condos such as Las Olas River House, Las Olas Grand, WaterGarden, Symphony, Las Olas Beach Club or L’Hermitage, to single-family homes in luxurious neighborhoods, such as Fort Lauderdale Beach, Las Olas, Lauderdale by the Sea, Wilton Manors, Victoria Park, Coral Ridge, Harbor Beach, Rio Vista and Bay Colony. Many of the available Fort Lauderdale homes for sale feature large windows, vaulted ceilings, spacious sunrooms, vaulted ceilings, and patios perfect for entertaining and relaxing – all characteristics that embody the South Florida lifestyle and offers a refuge from the cold snow filled winters in Canada. According to the National Association of Realtors (NAR), Canadians represented 11 percent of all international homebuyers who purchased homes in the United States in 2007. In Florida — where international homebuyers have the highest ownership in the United States — Canadians made up 9 percent of all buyers in 2007. This figure is up from 7.1 percent in 2005. Navigating the American home-buying process is easy with the right Realtor, particularly one who can provide information about real estate taxes, closing costs and general guidance through the home buying process. American lenders will give loans to Canadian buyers, but because of the added risk involved, they often demand up to half of the purchase price as a down payment. Canadian Credit Report Online offers a good list of credit bureaus. In most cases, it’s wise for Canadians to purchase a U.S. property in U.S. dollars because the Canadian currency has a tendency to drop against the American dollar. According to Investors Group, about 47 percent of Canadians pay cash for homes while 53 percent take out mortgages. Downtown Fort Lauderdale FloridaOften times, it’s wise to ask sellers if they’re willing to include any furnishings. This can save buyers the hassle of looking for new furniture and household accessories, particularly if they’re planning on renting the property after they close. In terms of square footage, many Canadians are finding they can get more for their money in the United States. Purchasing a slice of paradise pie has never been easier for Canadians looking for a retreat from the unforgiving winter weather. This rings particularly true for baby boomers who have recently retired or are about to retire. For more information about homes and condos for sale in Fort Lauderdale, contact John Sabia today at 954-850-2397. Go to the Fort Lauderdale Real Estate Home Page **Cette article disponible en français - Le Sud de la Floride vous offre les temps chauds et le marché favorable

John Sabia

2 Responses to "Canadians Taking Advantage of South Florida Real Estate Market and Weak US Dollar"

Le sud de la Floride vous offre les temps chauds et le marché favorable | Fort Lauderdale Real Estate News |Fort Lauderdale Real Estate Blog - John Sabia wrote: [...][...] News Real Estate News in Ft Lauderdale, Florida « Why Invest in a Fort Lauderdale Home Canadians Taking Advantage of South Florida Real Estate Market and Weak US Dollar [...][...]

Posted on Sunday, October 5th, 2008 at 2:20pm.

Kevin Sandridge wrote: Oh boy... I can see them streaming down over the border now! Seriously, we LOVE our Canadian brothers and sisters... and we love their money! The more the merrier, I say. :)

Posted on Friday, December 5th, 2008 at 2:36am.

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